Bullish on BNB: Swipe $12,000,00 Airdrop

By msimyunn | crypto saving | 22 Aug 2020

Disclaimer: Be the boss of your own money.

Background

Swipe (the product) is offering a multi-asset (cryptocurrency and fiat) digital wallet, it also employ a Visa debit card so that users can easily spend these asset in real-time. On its digital wallet, users can trade supported cryptocurrencies, stablecoins and fiat. When using the visa card, supported cryptocurrency will be instantly converted to fiat to be utilized as payment. The Swipe Token (SXP) is a utility based cryptocurrency design to power the swipe network, it was issued on ethereum blockchain.

This feature could be very lucrative for mass adoption because of its featured versatility.

For more information, check out the swipe website and whitepaper.

Airdrop's Effect

Binance holding an airdrop to BNB holders (at binance) running 12 weeks period starting from 2020/08/17 00:00 UTC. This airdrop is a total of ~$16,000,000 worth of SXP tokens. For more information visit the official binance announcement.

What makes this airdrop bullish on BNB is that more binance patrons will be trading that could make its price bullish. Alongside with this Swipe Token believers will be hodling BNB, new comers could be seeing this new opportunity too.

A seven day-price action of BNB reflects the comparable trend of BTC and as whole cryptocurrency space. Yet August 22 to sees a recovery spike on BNB, this could be due to number of users buying and hodling BNB. While this remain as speculative view, there could still be room for BNB price recovery given this recent activity.